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The Portland Business Journal’s 2025 ranking reports $572.3 million in combined compensation for 88 executives at public companies based in Oregon and Southwest Washington. It includes only executives whose reported annual compensation reached at least $1 million, and it draws on companies’ latest fiscal years—2024 or 2025, depending on the company. The ranking preview identifies Nike and Lattice Semiconductor executives as the regional leaders, but the available details do not show which special incentives drove particular executives’ pay increases.
What the regional ranking measures
The Portland Business Journal (PBJ) describes a ranking of 88 executives at public companies based in Oregon and Southwest Washington. Its inclusion threshold is $1 million in annual compensation. PBJ reports that the executives’ combined total compensation was $572.3 million, based on each company’s most recent fiscal year, either 2024 or 2025. These figures come from SEC proxy statements; PBJ says it could not independently verify the data. Read PBJ’s ranking preview.
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This is not a count of every CEO or employer in the two-state region. It covers executives at public companies that meet the ranking’s criteria, and the mixed fiscal-year periods mean the figures do not all describe the same calendar year.
What is known about the executives at the top
The accessible preview names Nike and Lattice Semiconductor executives as the leaders in the region. It does not establish the exact incentive awards or year-over-year pay changes behind the headline. Without the full ranking or relevant company proxy disclosures, it would be misleading to attribute a specific executive’s increase to a bonus, stock award, performance target, or retention plan.
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A separate summary contains an apparent error, claiming Nike CEO Elliott Hill received a $915 million salary. That figure should not be relied on; verify named amounts against an original ranking or company filing rather than repeating it. The secondary summary.
Why “total compensation” is not the same as salary
Executive total compensation can include base salary, cash bonuses, perks, stock awards, stock-option awards, and other pay. A large total therefore does not mean the executive received that entire amount as cash during the year.
Proxy statements commonly report stock and option awards at grant-date values. Those accounting values can differ substantially from the amount an executive ultimately realizes: shares may vest over time, depend on performance or continued employment, and change in market value. The Associated Press’ explanation of its 2025 Equilar analysis describes these compensation categories and the distinction between reported award values and eventual value. Read the AP/Equilar methodology overview.
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National figures provide context, but they are not directly interchangeable with the PBJ regional total or individual rankings.
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| Measure | Figure | Scope and qualification |
|---|---|---|
| PBJ regional ranking | $572.3 million combined | 88 executives at public companies based in Oregon and Southwest Washington; minimum reported annual compensation of $1 million; latest company fiscal years 2024 or 2025. PBJ says it could not independently verify its proxy-statement data. PBJ |
| AFL-CIO Executive Paywatch | $18.9 million average; up 7% | Average total compensation for S&P 500 CEOs in 2024, as reported by NW Labor Press. This is a national average, not a comparable regional ranking. NW Labor Press |
| AP analysis of Equilar data | $17.1 million median; up 9.7% | Median total compensation for 344 S&P 500 CEOs who had served at least two consecutive fiscal years and whose companies filed proxy statements from January 1 through April 30, 2025. This is a defined-sample median, not a regional average. AP/Equilar |
The average and median answer different questions, and the national sources use their own samples and methodologies. Neither establishes why compensation changed for any executive in the regional ranking.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What to check before drawing conclusions about incentives
To determine whether a particular executive’s pay jumped because of special incentives, compare the company’s proxy statement with the prior year’s filing. The relevant details are usually in the summary compensation table and the discussion of incentive plans and equity awards.
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- Author: Bungay Stanier, Michael.
- Publisher: Page Two
- Pages: 244
- Publication Date: 2016-02-29
- Edition: 1
- Identify the fiscal year. Match the reported compensation to the period covered by the filing, not simply the year the proxy was published.
- Separate salary from total pay. A headline total may be driven by bonuses or equity rather than a change in base salary.
- Distinguish cash incentives from equity. Look for annual cash bonuses, performance-based stock, time-based awards, options, and retention awards.
- Read the award conditions. Check the stated performance measures, vesting schedule, and service requirements before describing an incentive as earned or guaranteed.
- Keep reported value separate from realized value. Grant-date values in proxy tables do not establish how much an executive ultimately received from an award.
The regional preview does not provide verified, company-by-company incentive details, so it supports the overall ranking figures and its identification of the leaders—not a causal explanation for individual pay increases.
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